Penserra Capital Management LLC Purchases 8,813 Shares of Coinbase Global, Inc. (NASDAQ:COIN)

Penserra Capital Management LLC lifted its position in Coinbase Global, Inc. (NASDAQ:COIN - Free Report) by 18.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 56,231 shares of the cryptocurrency exchange's stock after acquiring an additional 8,813 shares during the period. Penserra Capital Management LLC's holdings in Coinbase Global were worth $9,684,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in COIN. Mascagni Wealth Management Inc. bought a new stake in shares of Coinbase Global during the 4th quarter valued at $25,000. Copia Wealth Management purchased a new position in Coinbase Global during the 4th quarter valued at about $26,000. Atala Financial Inc bought a new stake in Coinbase Global during the fourth quarter worth about $27,000. Mpwm Advisory Solutions LLC purchased a new stake in Coinbase Global in the fourth quarter worth about $35,000. Finally, Brooklands Fund Management Ltd purchased a new stake in Coinbase Global in the fourth quarter worth about $37,245,000. Hedge funds and other institutional investors own 68.84% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on COIN. Keefe, Bruyette & Woods boosted their price target on Coinbase Global from $183.00 to $205.00 and gave the stock a "market perform" rating in a research report on Friday, May 9th. Piper Sandler lifted their price objective on Coinbase Global from $180.00 to $190.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Canaccord Genuity Group reissued a "buy" rating and issued a $400.00 target price on shares of Coinbase Global in a research note on Friday, May 9th. Cantor Fitzgerald initiated coverage on Coinbase Global in a report on Tuesday, April 8th. They set an "overweight" rating and a $245.00 price target for the company. Finally, Citigroup reaffirmed a "buy" rating on shares of Coinbase Global in a research report on Wednesday, June 25th. Ten equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $293.74.

Coinbase Global Stock Performance

NASDAQ:COIN traded up $1.30 during trading hours on Monday, reaching $357.10. The company had a trading volume of 7,867,122 shares, compared to its average volume of 10,778,683. The firm has a market cap of $90.66 billion, a price-to-earnings ratio of 66.87, a PEG ratio of 26.03 and a beta of 3.70. The company has a current ratio of 2.52, a quick ratio of 2.52 and a debt-to-equity ratio of 0.40. The firm's 50 day moving average price is $265.23 and its 200-day moving average price is $242.75. Coinbase Global, Inc. has a 52 week low of $142.58 and a 52 week high of $382.00.

Coinbase Global (NASDAQ:COIN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The cryptocurrency exchange reported $1.94 EPS for the quarter, missing the consensus estimate of $2.18 by ($0.24). Coinbase Global had a return on equity of 20.25% and a net margin of 21.14%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the previous year, the firm earned $2.53 EPS. The business's revenue was up 24.2% on a year-over-year basis. On average, analysts forecast that Coinbase Global, Inc. will post 7.22 EPS for the current year.

Insider Activity at Coinbase Global

In other news, Director Frederick Ernest Ehrsam III sold 30,167 shares of Coinbase Global stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $252.68, for a total transaction of $7,622,597.56. Following the transaction, the director owned 10,417 shares in the company, valued at $2,632,167.56. This trade represents a 74.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Brian Armstrong sold 336,265 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $362.61, for a total transaction of $121,933,051.65. Following the sale, the chief executive officer directly owned 526 shares of the company's stock, valued at approximately $190,732.86. The trade was a 99.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 685,915 shares of company stock worth $222,081,432 in the last quarter. Company insiders own 17.65% of the company's stock.

Coinbase Global Company Profile

Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.